The EURJPY was corrected higher yesterday but overall still able to maintain its bearish intraday bias. The bias is neutral in nearest term but I still prefer a bearish scenario at this phase and only a clear break above 101.00 – 102.20 resistance area will interrupt my bearish view. Immediate support which is also the nearest bearish target is seen around 98.50 – 98.00 area. Immediate resistance is seen around 100.00. A clear break above that area could trigger further bullish pullback testing 101.00 – 102.20 key resistance area.
The GBPJPY failed to continue its bearish momentum yesterday, topped at 124.07 and closed at 123.76. The bias remains neutral in nearest term. Immediate resistance is seen around 124.07 (yesterday’s high). A clear break above that area could trigger further bullish momentum testing 125.00/50 key resistance area. On the downside, we need a clear break and daily close at least back below 122.50/00 to end the bullish correction phase and continue the bearish scenario testing 120.40.
The AUDUSD failed to continue its bearish momentum yesterday, topped at 0.9969 and closed at 0.9945. The bias is neutral in nearest term but overall I still prefer to sell on rallies. Immediate resistance is seen around 1.0007 followed by 1.0050. Immediate support is seen around 0.9900 – 0.9870. A clear break below that area could trigger further bearish pressure testing 0.9820/00 area and keep the major bearish scenario remains strong.
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